Turning Point Brands (NYSE:TPB) Hits New 52-Week High – Should You Buy?

Turning Point Brands, Inc. (NYSE:TPB)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $52.76 and last traded at $52.46, with a volume of 34319 shares trading hands. The stock had previously closed at $51.69.

Analyst Upgrades and Downgrades

TPB has been the topic of several recent analyst reports. StockNews.com cut shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 24th. Benchmark lifted their price objective on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Roth Mkm began coverage on Turning Point Brands in a research note on Thursday, September 19th. They issued a “buy” rating and a $50.00 price target on the stock.

Turning Point Brands Stock Up 4.8 %

The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.17. The stock’s 50 day simple moving average is $43.21 and its two-hundred day simple moving average is $37.71. The firm has a market cap of $973.50 million, a P/E ratio of 21.83 and a beta of 0.63.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The business had revenue of $105.62 million during the quarter, compared to analysts’ expectations of $100.71 million. During the same quarter in the previous year, the business earned $0.69 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year.

Turning Point Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, December 20th. This represents a $0.28 dividend on an annualized basis and a yield of 0.51%. Turning Point Brands’s dividend payout ratio is currently 11.11%.

Insider Transactions at Turning Point Brands

In related news, Director Gregory H.A. Baxter sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total value of $78,840.00. Following the completion of the transaction, the director now directly owns 46,544 shares in the company, valued at $1,834,764.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.80% of the company’s stock.

Institutional Trading of Turning Point Brands

A number of institutional investors have recently made changes to their positions in TPB. Federated Hermes Inc. grew its position in Turning Point Brands by 245.9% in the 2nd quarter. Federated Hermes Inc. now owns 154,708 shares of the company’s stock worth $4,965,000 after purchasing an additional 109,983 shares during the period. Vanguard Group Inc. lifted its stake in shares of Turning Point Brands by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock worth $43,865,000 after purchasing an additional 92,147 shares during the period. Lord Abbett & CO. LLC boosted its holdings in shares of Turning Point Brands by 45.2% in the first quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock worth $7,481,000 after buying an additional 79,489 shares during the last quarter. Tidal Investments LLC bought a new stake in Turning Point Brands during the first quarter valued at approximately $1,661,000. Finally, Renaissance Technologies LLC raised its position in Turning Point Brands by 21.1% in the second quarter. Renaissance Technologies LLC now owns 302,697 shares of the company’s stock worth $9,714,000 after acquiring an additional 52,800 shares during the period. Hedge funds and other institutional investors own 96.12% of the company’s stock.

About Turning Point Brands

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker’s Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.